Renting an Apartment With Poor Credit

Series Summary

The invention of "credit" as we know it was a milestone in the journey toward re-establishing an aristocracy in the United States. Historically, credit is as old as the idea of a promise and as common as opening a tab at the local bar. An economy based on credit leaves only the lenders free, and it scores individuals based on their ability to stay in debt and continually make money for lenders. The economic system of the United States, founded at the birth of the Federal Reserve, borrows money from international banking groups and itself lives on credit. In this free video series on finance, a financial manager and currency trader discusses credit reports and credit scores. Get information about building up good credit with no credit history at all, and find ways to repair bad credit. Learn a few tricks to gain back credibility at the bank, and find out how to gain access to a credit report. Keep track of your credit with this helpful financial guide.

Video Transcript

"If you have poor credit and you go to rent an apartment or rent a house, if your potential landlord sees that you've had bad credit, they're not going to be very comfortable that you're going to be able to pay them on time. So the question is, how do rent the apartment? Well, usually cash cures all wills. You can always prepay, number one. Number two, you can get somebody to guarantee those payments for you, mom, dad, friends, whatever it might be. And number three, you can set up an automatic payment system through your bank so that the landlord knows that they'll be paid on time every month. Those are three really concrete steps that you can take, they're pretty easy, that will help you rent any apartment, or home that you want, even if you have bad credit. I'm Roger Groh."